It seems that the gold price posted on August 15, at $1,165.50, is the bottom of its current decline.
Gold prices seem to have stabilized a bit following the decline of the U.S. dollar. However, struggles await for the price movement.
Gold prices start to trade lower against a much stronger dollar as the trade conflict between U.S. and China continue to escalate.
When the dollar receives an increase, gold plunges.
Adhik Maas contributed to the dip in the country's gold imports.
Located at Western Australia, the Bellevue Gold Project has produced more than 800,000 ounces of gold throughout its more than 100 years of operations.
The strength of the U.S. dollar and a bullish trading pushes for a higher price index of gold, closing near the $1,300 per ounce mark.
Australia might become the newest addition in the PGM sector upon discovering untapped local deposits filled with palladium, platinum, gold, and rhodium.
The white metal will outperform gold thanks to its low price.
The precious metal will get more demand this month because of the Akshaya Tritiya festival, where gold is essential in the bride's dowry.